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Shell Nigeria is the common name for Shell plc's Nigerian operations carried out through four subsidiaries—primarily Shell Petroleum Development Company of Nigeria Limited (SPDC). [2] Royal Dutch Shell's joint ventures account for more than 21% of Nigeria 's total petroleum production (629,000 barrels per day (100,000 m 3 /d) (bpd) in 2009).
On June 8, 2009, Shell settled out-of-court with the Saro-Wiwa family for $15.5 million. [2] [3] Ben Amunwa, director of the Remember Saro-Wiwa organization, said that "No company, that is innocent of any involvement with the Nigeria military and human rights abuses, would settle out of court for 15.5 million dollars. It clearly shows that they ...
The violence has contributed to Nigeria's ongoing energy supply crisis by discouraging foreign investment in new power generation plants in the region. From 2004 on, violence also hit the oil industry with piracy and kidnappings. In 2009, a presidential amnesty program accompanied with support and training of ex-militants proved to be a success.
Oil has moved up the past two trading days, to a large extent because of a rebel attack on part of the Shell pipeline system in Nigeria. Bloomberg reports "the strike targeted two well clusters in ...
Today, a Dutch court delivered a judgment finding Shell's Nigerian subsidiary partly liable for environmental and social damage its operations have caused in Nigeria. The result - while qualified ...
Over the past few years, Shell has been plagued by a couple of major operational debacles. The first is its beleaguered oil campaign in Alaska, which the company recently decided to put on pause ...
Later that same year, Shell requested military support in order to build a pipeline through Ogoniland. The MOSOP continued to protest Shell’s business in Nigeria and oppose their work. Since the execution of the Ogoni Nine, throughout the early 2000s, there have been numerous spills and extraction-related fires throughout Nigeria. [11] [12] [13]
Almost all of the focus on crude prices has been based on falling production and rising demand from large nations like China. These forces and, perhaps, aggressive speculation, have caused oil ...